Academic journal article Asian Social Science

The Human Capital Theory through the Prism of Financial Security of Finland's Education

Academic journal article Asian Social Science

The Human Capital Theory through the Prism of Financial Security of Finland's Education

Article excerpt

Abstract

The paper is concerned with the questions of reproduction of the human capital in Finland and, in particular, investments into education. The paper shows the role of the state which provides realization of constitutional rights of citizens of this country to free educational services that empowers Finland to reach the leading position in the European innovative system.

Keywords: investments, financing, human capital, education, innovations, Finno-Ugric region, Finland

1. Relevance of the Subject of the Research

The problem of correlation of fundamental concepts of economic science and its applied aspects is complicated and multidimensional owing to complexity and multidimensionality of both separate theoretical postulates of economic science and applied elements of its realization. The use of systemic, historical, geographical, functional, complex approaches as methodology of scientific knowledge complicates the scheme of scientific research, but at the same time makes it fuller. Besides, the same fundamental theory of economic science can be considered from the positions of practically any applied economic science which also complicates the perception of fundamental principles. Within one scientific article it is impossible to investigate the whole scientific problem. At the same time steady interrelation of the theory and practice provides the synergy effect at realization of the main goal of economy performance that is the wise supporting the needs of a person and the state. Not the last role in this process is played by studying and assimilation of the best world practices, of course where it is possible. Indicators of social and economic development of successful world economies can serve as reference points for the aims of economic development of our country. And world financial practices as instruments of achievement of the mentioned purposes can be adapted with some known amendments.

As the central link of economy is the person, "the person - the consumer" and "the person - the producer", it is possible to assume that the theory of the human capital is a rather important fundamental concept of the economic science. At the same time it should be noted that the person as an economic subject cannot function out of the financial system of the state, and creation of the human capital which can be used for production of goods, works and services is impossible without the expenditure of material and monetary values. The human capital can be created and supported by realization of such social constitutionally fixed functions of the state as educational, public health, cultural and etc. In connection with this it is easy to present a logical chain "the person - the human capital - education - financing". Unfortunately, the comparative analysis of indicators of the development level of the human capital in our country and the countries with socially focused market economy allows establishing the fact that the level of development of the national educational system does not fully conform to the international standards. It is in many respects connected with low efficiency of financial security of educational system. In this connection studying of interrelation of indicators of the development level of the human capital and financial security of education of Finland as a world developed country with socially focused market economy is advisable.

2. Previous Study

Development of the concepts of the human capital theory has been studied by such researchers as E. L. Aksenova, T. Yu. Bazarov, O. Yu. Bryukhov, N. I. Gvozdeva, A. V. Koritsky, E. S. Kotyrlo, A. L. Kurakov, G. H. Shingarov.

The researches of N. K. Alimova, A. S. Borisov, T. L. Klyachko, V. K. Krutikov, O. N. Kusheeva, E. I. Skobleva and etc. are devoted to the problems of education financing.

The educational system of Finland is rather fully studied by I. P. Kulikova, D. A. Rubvalter, O. V. Rudensky, etc.

At the same time the interrelation of quantity and quality indicators of the development level of the human capital and education financing in the conditions of developed economies with similar to the Russian model of education financing (for example, Finland) is studied insufficiently. …

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